The Predictive Content of Earnings Forecasts and Dividends

The Predictive Content of Earnings Forecasts and Dividends ABSTRACT This paper compares the properties of dividend announcements and management earnings forecasts as predictors of earnings and firm value. First, the two predictors are compared on the basis of their ability to predict earnings. Then the information they convey about firm value is assessed by comparison of the performance of investment strategies based on values of the two predictors. Finally, the effects of dividend announcements on stock prices are considered. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Finance Wiley

The Predictive Content of Earnings Forecasts and Dividends

The Journal of Finance, Volume 38 (4) – Sep 1, 1983

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Publisher
Wiley
Copyright
1983 The American Finance Association
ISSN
0022-1082
eISSN
1540-6261
DOI
10.1111/j.1540-6261.1983.tb02290.x
Publisher site
See Article on Publisher Site

Abstract

ABSTRACT This paper compares the properties of dividend announcements and management earnings forecasts as predictors of earnings and firm value. First, the two predictors are compared on the basis of their ability to predict earnings. Then the information they convey about firm value is assessed by comparison of the performance of investment strategies based on values of the two predictors. Finally, the effects of dividend announcements on stock prices are considered.

Journal

The Journal of FinanceWiley

Published: Sep 1, 1983

References

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